RedSky buys Williamsburg development site from Thor, lands $222M refi of neighborhood portfolio

As Williamsburg braces itself for the 15-month L train shutdown, Brooklyn’s RedSky Capital is expanding its portfolio in the heart of the neighborhood. The Dumbo-based firm paid $32.25 million to buy a four-parcel development site at the corner of North 6th and Berry streets from Thor Equities, sources familiar with the sale told The Real[…]

Consider the yurt: Sam Zell’s outdoor home rental business luring investors

Sam Zell may be known for high-end apartments and skyscraper office spaces, but his outdoor rental business, which includes yurts, has been outperforming them both. Stock for Chicago-based Equity Lifestyle Properties, Zell’s real estate investment trust for RV parks, mobile and manufactured multifamily homes, hit $95 this month. That’s a fatter investment return than Zell’s[…]

Nonprofit, Northwell Health get $246M loan for Upper East Side assemblage

The University Financing Foundation and Northwell Health have received a $246 million acquisition loan for their purchase of six vacant Upper East Side buildings. The loan comes from CGA Mortgage Capital, according to Commercial Observer. The Maryland-based company previously loaned Muss Development $198 million for Brooklyn Renaissance Plaza on Jay Street. TUFF, a nonprofit, purchased[…]

Manhattan’s luxury market jumped to 19 contracts last week: Olshan

After a particularly slow week, Manhattan’s luxury residential market saw a 58 percent jump in signed contracts, according to Olshan Realty’s latest market report. Nineteen contracts for homes priced $4 million and up were signed last week, according to the report. The prior week only saw 12 contracts, representing the lowest total seen since the[…]

Auction website takes 41K sf sublease at Terminal Stores for showroom

1stdibs.com, an online marketplace for high-end interior design items, signed a sublease to take more than 40,000 square feet for a new showroom at the Terminal Stores in West Chelsea. The venture-capital backed e-commerce company signed a four-year sublease with electronics manufacturer Flextronics for a little more than 41,000 square-feet at the massive warehouse complex,[…]